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Hitler's Economic Policy
Drag Germany out of the world recession.
Solve unemployment (which he had promised to do).
Make Germany an 'autarchy' - self sufficient.
Get rid of Jewish industrialists and give their businesses to 'Aryans'
Transform the economy to focus on rearmament/war.
Biggest inherited problem.
Unemployment fell as economy improved.
Work creation schemes offered temporary work on public facilities (e.g.
Nazis drove jobless figures down by banning Jews and women from working.
Arms industries labour intensive.
Dr Hjalmar Schacht
Directed German economy 1933-6
Believed in steady growth / stable currency.
Promoted trade agreements with developing countries
His New Plan of 1934 aimed to reduce imports into Germany and to
strengthen the currency.
Fell out with Hitler and was replaced by Goering.
Hitler and Goering
German economy can be converted into a war machine
Germany must re-arm quickly, conquer countries, takeover their economies
and move on
Conquered countries would give the master race 'Lebensraum' (aiming to
provide extra space for the growth of the German population)
By exploiting conquered countries living standards at home maintained
Goering's 4 year plan 1936
Speed up rearmament and make Germany ready for war.
Make Germany self sufficient in raw materials 'autarchy' by developing home
In 1933 total money spent on the military was 1.9 million marks; by 1939 it
was 32.3 million.
Industrial targets set.
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Were they a success?
Unemployment dropped quickly/wages rose slightly
Working hours went up to 49 hours per week in 1939, 52 in 1943 to over 60 by
There were fewer consumer goods
No trade union rights -replaced replaced by `Strength through Joy' - better
leisure opportunities.…read more